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iSm- do you own, or rent? If you rent, the market is probably going to get tighter and as a result spendier. If you own, you're going to see your property's value take a nosedive- and I really believe that you all have a long way to fall before you hit bottom in SoCal. Investment groups own/operate many rental properties up here, so I'm guessing that's the same dynamic down there as well. Those groups are probably going to falter, and who will pick up the pieces? I don't pretend to understand the intricacies of real estate, but I do know that it is largely an investment and to invest takes capital.
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